On Sept. 14, United States President Joe Biden revealed his picks to fill two vacant seats at the United States Commodity Futures Trading Commission (CFTC). In addition, the president nominated Rostin Behnam, who has run the derivatives regulator as acting chairman since January, to assume the office on the permanent basis. The appointments are unlikely
Regulation
American CryptoFed DAO, a Wyoming-based decentralized autonomous organization, has filed two forms with the United States Securities and Exchange Commission, or SEC, to launch two variants of inter-dependent stablecoins named Locke and Ducat. According to CryptoFed’s Form 10 submission, the tokens are awaiting their registration as utility tokens hosted on the in-house CryptoFed blockchain. However,
The Texas State Securities Board has filed for a hearing with the potential to impose a cease and desist order against crypto lending firm Celsius Network for not offering security licensed at the state or federal level, while the New Jersey Bureau of Securities has ordered the platform to stop offering and selling interest-earning cryptocurrency
2021 has been a wild ride for the cryptocurrency market as Bitcoin shocked its naysayers by setting a new record high at $64,863 and the DeFi and NFT sector made headlines around the world. It’s times like these that crypto traders need to be wary because the notoriously volatile nature of the cryptocurrency market can
Bybit, one of the world’s top cryptocurrency derivatives exchanges, will halt some of its services to South Korean users ahead of a licensing deadline. The exchange officially announced on Friday that it will discontinue Korean language support from its platforms as well as its official South Korean community on social media. The suspensions will take effect
Some U.S. Senators are ramping up the anti-crypto rhetoric again, urging federal agencies to take action against the illicit use of digital assets. Democrat Senator Maggie Hassan is the latest to raise concerns about the use of cryptocurrency as a means of payment for ransomware attacks. The Senate Homeland Security and Governmental Affairs Committee member
Noh Woong-rae, a member of South Korea’s National Assembly and a representative of the country’s ruling party, reportedly plans to postpone a bill clarifying the taxation of crypto until 2023. According to a Thursday report from Naver News, Noh said the Democratic Party of Korea plans to push back against the intention of South Korea’s
On Wednesday, speaking at a meeting of the Exchequer Club — which is a group of senior economic and financial policy professionals headquartered in Washington, D.C. — Acting Comptroller of the Currency Michael Hsu delivered remarks on the topic of safeguarding trust in banking. In the speech, Hsu named reducing inequality, adapting to digitalization, acting on climate
Alternative investment firm SkyBridge capital hopes to expand its crypto offerings, filing for a crypto-focused exchange-traded fund (ETF) on Tuesday and revealing plans for an Algorand fund at this week’s SALT conference in New York. Speaking to CNBC, SkyBridge founder and former White House Communications Director Anthony Scaramucci said the firm had raised more than
The Central Bank of the Republic of Turkey (CBRT) has made a major step forward with a research and development project that could see the Turkish lira go digital. On Wednesday, CBRT announced the signing of memoranda of understanding with three domestic research and technology companies that will form the “Digital Turkish Lira Collaboration Platform.”
Hongkong Land, a property landlord in Hong Kong, has leased out commercial office space to a local crypto-asset firm named HashKey Group following clarity around cryptocurrency regulations. Neil Anderson, director of Hongkong Land, believes that the decision to lease commercial property to crypto businesses was heavily reliant on the recent crypto regulations set by the
President Joe Biden has tapped acting chairperson of the Commodity Futures Trading Commission (CFTC) Rostin Behnam to assume his position on a permanent basis and two others to fill vacant commissioner seats. In a Monday announcement from the White House, President Biden said he planned to nominate Behnam — who has been serving as lead
Democratic Senator Elizabeth Warren, known by many as an outspoken cryptocurrency skeptic in the United States government, criticized outages at exchanges and high transaction fees during periods of price volatility. In a Tuesday hearing of the Senate Committee on Banking, Housing, and Urban Affairs with Securities and Exchange Commission chair Gary Gensler, Warren claimed the
The Republic of Uzbekistan will never adopt cryptocurrencies like Bitcoin (BTC) as a payment method, according to a central bank official. Behzod Khamraev, deputy chairman of the Central Bank of Uzbekistan (CBU), predicted that local authorities will never allow residents to use Bitcoin as payment, alleging that BTC is backed by nothing. In an interview
The United States Securities and Exchange Commission (SEC) has charged three of Chinese billionaire Guo Wengui’s companies over an initial coin offering (ICO) and initial public offering (IPO) that fetched around $487 million combined. The infamous Wengui, also known as Miles Kwok or Miles Guo, is an exiled Chinese businessman who currently resides in New
Democrats in the U.S. House of Representatives have proposed tax initiatives to fund a $3.5 trillion spending package which could potentially affect crypto users. According to a document released by the House Committee on Ways and Means on Monday, the proposal would increase the tax rate on long-term capital gains from the existing 20% to
